Laserfiche WebLink
<br />, <br /> <br />~J <br /> <br />STATE OF COLORADO <br /> <br />. Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />DenveI, Colorado 80203 <br />Phone, (303) 866-3441 <br />FAX, (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />MEMORANDUM <br /> <br />Bill Owens <br />Governor <br /> <br />TO: <br /> <br />FROM: <br /> <br />File <br /> <br />John Van Sciver, P.E. --:.:ruIt/ <br />Mike Serlet, P.E., Chief //, ( <br />Water Supply Planning iBl1finance Section. <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />DATE: <br /> <br />July 18, 2002 <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />SUBJECT: Follow-up on Agenda Item 12c., May 20-21,2002 Board Meeting <br />John Peroulis & Sons Partnership: Follow-up Loan <br /> <br />Introduction <br />On May 20, 2002 the John Peroulis & Sons Partnership (JPSP) was considered for an additional <br />$150,000 Small Project Loan from the Construction Fund to rehabilitate the dam on the Marlin <br />Cull Reservoir. (The Partnership had been previously approved for a $100,000 Small Project Loan <br />in September 2001.) If approved, the total loan amount would have become $250,000 on a <br />project with an estimated total cost of $335,000. <br /> <br />Action taken by the CWCS Mav 20. 2002 <br />From the Board Minutes for May 2002: . <br /> <br />':<\ motion was made by Eric Wilkinson and seconded by Carolyn Mcintosh for a follow-up loan <br />from the Small Project Account not to exceed $150,000 to the John Peroulis & Sons <br />Partnership to rehabilitate and enlarge the Martin Cull Dam. The term of the loan is 30 years <br />and the lending rate is 2.75%. Security for this loan and for the initial $1 OaK loan will be the <br />Martin Cull Reservoir, the water rights to fill the reservoir, and 200 acres of land underlying and <br />surrounding the reservoir. Staff will work with applicant to obtain a first lien on additional <br />collateral. If additional collateral is not obtained, the loan will be limited to $200,000. Approval of <br />this loan shall be contingent upon final approval of the Construction Fund Bill (HB 02-1152), <br />allowing CWCB authorization of projects up to $1million without legislative approval. Motion was <br />approved (7~ 1 with Don Schwindt not approving). " <br /> <br />Additional Collateral <br />The applicant has provided additional collateral, over and above the 200 acres <br />described above, as specified in the attached letter from Larry Whiteman of <br />Professional Agri Service. In summary, this collateral consists of 157.66 acres <br />described as the W1/2 E1/2 of Section 17, T1 ON, R90W. The north boundary ofthis <br />parcel is contiguous to the original collateral, and this added collateral is valued at <br />between $78,830 and $133,960. <br />